From kids making a deal with mom and dad to stay up past their bedtime, to a couple making a deal on a car or new home, or an employee trying to convince his or her boss that it's time for a raise, many of us negotiate for something every day. And while it may be simple to make a deal with your spouse to switch taking out the trash with walking the dog, or to convince yourself that the emotional benefits of eating a bowl of ice cream far outweigh the phsyical benefits of taking a walk, negotiating with a business or service provider takes a certain amount of skill and courage to be successful.
The fear of hearing the word "no" keeps many people from asking for what they want, even when the request is reasonable.
There are many strategies for successful negotiations. If you're new to the game, start with these few basic tips. With practice and a disciplined approach, you can often get what you want and make the individual or business involved feel like they are winning, too.
- Decide what you want and stay focused on what are you willing to do to get it. You can spend a lot of time negotiating small things that will distract you from your original goal.
- Research the person or company you intend to negotiate with. What are their needs? If what you are willing to give is of little value to the other party, your negotiating position will be weakened.
- Don't be afraid to ask for what you want. You'll never know what's possible if you don't put it on the table.
- Stay calm. If you lose your temper, you lose a great deal of your negotiating power. Even though you may "win" this time, you may lose the opportunity to negotiate in the future if you continue to do business with this company.
- Leave some room for compromise. Listen to what the other person has to offer. Successful negotiations should feel like a win-win for both parties, so give the other person an opportunity to state his or her terms as well.
- Be prepared to walk away. If you can't negotiate for something that you value, don't make a deal for something you don't want or can't afford. Plus, if the person you are negotiating with sees you are about to walk away, it might motivate him or her to look at your deal a little more seriously rather than risk losing your business all together.
The ideal outcome of a negotiation is a better deal (such as a lower price or free extras) and the establishment of an ongoing relationship with the seller. No matter what the item or service is - it never hurts to ask for something extra. The worse thing that can happen is the seller says "no", giving you the opportunity to answer the question: Am I really getting my money's worth at this price?